6.3. EDSR 12-21-2015 - Laserfiche WebLink

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capitalized as of the next occurring first of a calendar month (the "Conversion Date"); (ii) the term of the Loan shall be seven (7) years, commencing upon the Conversion Date; (iii) Lender will calculate the monthly payments due and owing from Borrower, based upon a seven (7) year amortization; (iv) the first payment will be due and payable on the Conversion Date; and (v) the terms and conditions of this Loan Agreement and any other related loan document and the Borrower's obligations thereunder shall continue until the Loan and all accrued interest is repaid in full. 7. Access to Equipment. Lender and its respective representatives shall have at all reasonable times, upon reasonable prior notice, the right to enter and have free access to Borrower's property to inspect the Equipment. 8. Books and Records. Borrower agrees to maintain accurate and complete books, accounts and records in regard to the Equipment in a manner reasonably acceptable to Lender. Lender and its representatives shall have the right to inspect, examine and copy all such books and records of Borrower and Borrower shall, at Lender's request, furnish such information as Lender may reasonably demand. 9. Encumbrances and Transfer. Borrower agrees not to sell, transfer, lease or convey the Equipment or any part thereof, or any interest therein, or encumber the Equipment or any part of thereof, in any manner, without written consent of Lender which consent may be granted or withheld in the sole discretion of Lender. This requirement shall apply to each and every sale, transfer, lease or conveyance, whether voluntary or involuntary and whether or not Lender has consented to any such prior sale, transfer lease or conveyance. 10. Time of Essence. Time is of the essence in the performance of this Agreement. 11. Assignability. Borrower shall not assign this Agreement or all or any part of any advances to be made hereunder without written consent of Lender which consent may be granted or withheld in the sole discretion of Lender. 12. Miscellaneous Covenants of Borrower. Borrower covenants and agrees with Lender that, without costs to Lender, Borrower will: (a) Performance of Note. Security Agreement, Etc. Without limiting the foregoing, keep and perform all of the terms, covenants, conditions and requirements of: (i) the Note, the Security Agreement, this Agreement; and (ii) any and all documents evidencing the Other Financing. (b) Insurance. During the term of the Security Agreement, Borrower shall procure and maintain or cause to be procured and maintained at its sole expense casualty insurance against the Equipment (in any amount at least equal to the replacement cost of the Equipment), public liability insurance -5-